The Iron ore spot price has risen to a three-and-half month high in a positive session for metals. The 62% iron ore fines price rose by 2.9% or $US1.38 to $48.52 per tonne, its highest level since November 11. Base metals also gained ground on Friday, with zinc up by almost 2.9% to $1748.25/t, its best price since October. Nickel gained close to 2.8% to $8557.50/t, while aluminium was up by more than 2% to $1562.75/t.
The years of President Joko “Jokowi” Widodo’s administration are a crucial time for reducing Indonesia’s oil and coal dependency and turning to the abundant sources of renewable energy in Indonesia such as wind, hydro, biomass, sea-wave, solar, and geothermal energies, experts have said.
Silicon Valley - President Joko Widodo has asked Google to support the development of Indonesia’s digital economy, adding that he wanted to produce 1,000 technopreneurs by 2020.
“We expect support in education for IT developers,” said Jokowi when meeting with Sundar Pichai, Google’s CEO, in Googleplex, Silicon Valley, San Francisco, Wednesday, February 17, 2016.
Anglo American soared by 20%, while Glencore was up by 16%. Antofagasta gained close to 15%, while BHP Billiton and Rio Tinto each rose by more than 10% each. According to Bloomberg, it was the biggest one-day gain for miners since 2008. It came despite only moderate gains for metals in London, with copper and zinc the best performers with rises of around 1.1% each.
Indonesia the fourth most populous nation is ranked 109th among 189 economies. In a world where everything moves so fast and economic rivalry becomes fiercer among nations, Indonesia should no longer take anything for granted, or it will be left behind, says President Joko “Jokowi” Widodo.
New coal seam gas field testing of Tight Radius Drilling (TRD) technology at an operation in the Bowen Basin is delivering successful results. These tests, of the technology developed by CRCMining, are the first time that the radial drilling system has been deployed under the Petroleum and Gas legislation. Originally developed for coal mine gas drainage, Tight Radius Drilling is an alternative to fracking.
NTSB: Driver Fatigue caused 2014 Walmart truck crash.
Fleets widely use uplinked data and analytics to optimize trucks' operation. Maybe it's time to apply the same formula to drivers' care to get more out of fatigue-fighting programs, one company argues.
With interest in the prospect of mining the moon and asteroids gaining pace, it’s time to take a hard look at what’s really at stake.
If you believe the financial media, safe-haven assets are constantly changing.
For example, following a period of volatile gold prices, the Wall Street Journal claimed last year that “Gold’s role as a safe-haven investment wanes” and only three months later stated that it had regained its safe-haven property.
Is gold indeed constantly changing its safe-haven status? The answer is a clear “no”.
The Indonesian government released its tenth economic policy package on February 12, 2016, with a focus on boosting foreign direct investment into Indonesia and protecting small and medium enterprises (SMEs) and cooperatives. The package offers hints of the coming revisions to the Negative Investment List, commonly known as the DNI. It is expected that a presidential regulation regarding the new DNI will be issued in February or March.
The spot price soared by 18.6% or $US9.99 to $63.74 per tonne, its highest level since June last year. Futures yesterday pointed to a big jump, but few would have expected such a rise, with volumes up as well. Reports attributed the rise in demand to increased purchasing ahead of curtailments in steel production due to a horticultural show in China’s Hebei province. “So the iron ore price is ramping up on the back of a planned flower show? The mind boggles,” Investec said.